World View & Market Commentary. Forest first; Trees second. Focused on Real & Knowable facts that filter through the "experts" fluff and media hyperbole. Where we've been, what the future may hold and developing a better way forward.

Wednesday, December 2, 2009

This is an interesting video as it brings up some pertinent issues. At first you may feel as if she was not doing the job she was hired for, and most who understand business will know that it is profit driven.

But here’s what even she doesn’t either know or address. Bank of America did NOTHING to produce the debt that the people now must repay at 29.99%, a rate of interest guaranteed to make any mobster blush, and one that is backed by no assets. Yes, that rate is USURY which is where one person immorally takes advantage of another person via money. That moral concept is rooted directly in the Bible, showing that the practice of controlling people with debt is nothing new.

So, who’s to blame for the unplayable debts? The bank who marketed the accounts and printed money from nothing with no backing whatsoever while charging 30% interest, the very same ones who are supposed to be the experts in the field of money, OR was it the knuckleheaded college student or young couple trying to raise their children while trying to afford overpriced housing? They are both equally at fault you say? I say they are both at fault, but it is not equal, and note simply that we are seeing more and more videos like this.